Yaw
portfolio deal
Yaw - Deal Memo
Status: Invested Stage: Pre-Seed / Seed Thesis: Relationship investment - Michael is up-and-coming
Summary
Founder: Michael
Why I Invested:
This is a relationship investment. Michael is an up-and-coming founder who shows high potential. Even if Yaw doesn't become a 1000x outcome, this will be a lasting good relationship.
Sometimes you invest in people, not just companies. Michael has the qualities I look for:
- Hunger and drive
- Technical capability
- Coachability
- Long-term thinking
The bet is on Michael's trajectory, not just this specific company.
Investment Thesis
1000x Opportunity?
TBD - Early stage, betting on founder potential.
Kingmaker Fit?
Strong relationship investment. Can provide mentorship, introductions, and support as Michael grows as a founder.
Notes
Even if Yaw doesn't succeed, I expect Michael to keep building. The goal is to be the investor he remembers when he's ready for his next venture - and the one after that.
This is how long-term founder relationships are built.
Documents
Complete_with_Docusign_SAFE_for_Steven_v2do.pdfDiscover Bank _ Wire Transfers SPA.pdf
Contacts — Yaw
Founders
| Name | Role | Phone | ||
|---|---|---|---|---|
| Michael Gants | CEO | mgants@alumni.stanford.edu | 781-572-6250 | linkedin.com/in/michaelgants |
Alt email: michaelgants99@gmail.com
Background:
- Stanford alum (GSB)
- StartX cohort member
- Previously: Venture Fellow at Hyperplane VC, Consultant at Innosight
- Building Encore (B2B SDK for app monetization) — pivoted from Yaw (AI shopping assistant)
Team
| Name | Role | |
|---|---|---|
| Junaid Javed | Chief Product Officer | linkedin.com/in/junaidjaved |
| Lyndsey Fish | Sales | lyndsey@joinyaw.com |
Relationship Timeline
| Date | Type | Summary |
|---|---|---|
| 2024-10-17 | Intro | Xuan intro via StartX |
| 2024-10-20 | Meeting | First meeting with Steven |
| 2024-10-23 | DD materials shared | |
| 2024-10-24 | Meeting | Met in person, discussed intro to George Ruan |
| 2024-11-22 | Announced raise with VillageGlobal, Mucker | |
| 2024-12-04 | Meeting | Final meeting before close |
| 2024-12-06 | Close | Investment closes |
| 2024-12-08 | Signed | SAFE signed via DocuSign |
| 2025-02-28 | Update | February investor update |
| 2025-03-31 | Update | March investor update |
| 2025-04-30 | Update | April investor update - in-page at major retailers |
| 2025-07-01 | Update | Q2 investor update |
| 2025-10-30 | Update | Q3 investor update - pivot to Encore (B2B SDK) |
| 2026-01-08 | Research | Independent research on Encore - product live, team growing, active PR |
Last Touchpoint
- Date: 2026-01-08
- Status: Conducted independent research on Encore pivot
- Next Action: Reach out to Michael for Ahead integration metrics and offer intros to mobile app founders
Notes — Yaw
New entries at top.
2026-01-08 — Independent Research (LinkedIn + Web)
Type: Research
Summary: Conducted independent research on Encore pivot progress via LinkedIn and web. Company showing strong execution on pivot.
Key Findings:
LinkedIn Profile Updates:
- Michael now listed as "Building Encore" (CEO since Sep 2025)
- 1,824 followers, 500+ connections
- Hired Junaid Javed as Chief Product Officer
- Active posting about churn/monetization strategies (as recent as 1 day ago)
Encore Product (encorekit.com):
- Professional website live with clear value prop
- iOS SDK that shows brand-safe offers to churned users
- Claims 45% boost in conversions, 15% user recovery rate
- Revenue share model (CPA) — "no risk, only upside" for developers
- Brand partners shown: Disney, Hulu, American Express
- Active sales pipeline with Lyndsey Fish running demos
How It Works:
- User hits paywall, declines to pay
- Push notification brings them back with exclusive offers (Disney+, Hulu, etc.)
- User accepts offer → gets extended free trial → app earns revenue from brand
PR/Marketing:
- Featured on App Masters podcast (Dec 2025) — 1.3K+ views
- Title: "New Monetization Model That Turns Churned Users into Revenue"
- Positive comments from viewers, Michael engaged in comments
- Steve P. Young (App Masters) interview
Assessment:
- Pivot execution looks clean and professional
- Product is live and being actively marketed
- Team has grown (CPO hired)
- Original thesis validated: relationship investment paying off
- Michael demonstrating adaptability and execution speed
Concerns:
- Early stage (Encore only ~4-5 months old)
- No public metrics on SDK adoption or revenue yet
- Unclear if brand logos are actual partners or aspirational
Next Action: Reach out to Michael for Ahead integration update and offer intros to mobile app founders.
2025-10-30 — Q3 Investor Update
Type: Email Update
Summary: Major pivot announced. Consumer shopping extension struggled to scale cost-effectively, but saw strong monetization from offers integrated into onboarding/checkout flows.
Key Updates:
- Pivoting to B2B: Building iOS SDK for consumer apps to monetize users who decline subscriptions
- New product called "Encore"
- First major customer: Ahead (AI therapy app with millions of users)
- SDK finished a few days ago
Long-term Vision:
- Power monetization for subscription companies
- Start with mobile apps/websites with subscriptions
- Expand to e-commerce (cart abandonment) and B2B self-serve tools
2025-07-01 — Q2 Investor Update
Type: Email Update
Summary: Outstanding Q2. Company on a mission.
2025-04-30 — April Investor Update
Type: Email Update
Summary:
- Now showing in-page at major retailers
- Added almost 50,000 social followers this month
- Figuring out social media strategy
2025-03-31 — March Investor Update
Type: Email Update
Summary:
- Chrome extension design changes
- Product insights showing on page while shopping
- Continued progress with major brands
2025-02-28 — February Investor Update
Type: Email Update
Summary:
- Really strong February
- Rebooted Chrome extension
- Focused on three main things
2024-12-08 — SAFE Signed
Type: Investment Close
Summary: SAFE signed via DocuSign. Investment complete.
2024-12-06 — Closing Day
Type: Email
Summary: Michael: "Hey! Sent over the docs. Just a reminder that we're closing..." Final paperwork exchanged.
2024-12-04 — Pre-Close Meeting
Type: Meeting
Summary: Mike and Steven meeting at 10:00-10:30 PST. Final discussion before close.
2024-11-22 — Raise Announcement
Type: Email
Summary: Michael announced working with VillageGlobal and Mucker on the raise. Described as "Yaw (next gen Honey)".
2024-10-24 — In-Person Meeting
Type: Meeting
Summary: Great meeting with Michael. Discussed intro to George Ruan (Honey founder). Michael impressed with his ability to articulate GTM strategy.
Follow-up:
- Attempted George intro (hard to reach post-exit)
- Intro to William
2024-10-23 — DD Materials
Type: Email
Summary: Michael sent "Some More Info as You Decide" — shared inspiring thoughts about Honey days and his mentality.
2024-10-20 — First Meeting
Type: Meeting
Summary: First meeting with Michael. Accepted meeting invite.
2024-10-17 — Intro from Xuan
Type: Intro
Summary: Xuan intro: "A friend of mine in my StartX cohort, Michael Gants, is building an AI shopping assistant. Sort of a next gen Honey."
Investment Thesis
Type: Investment Decision
Summary: Relationship investment. Betting on Michael's trajectory as a founder.
Why I Invested:
- Hunger and drive
- Technical capability
- Coachability
- Long-term thinking
- StartX pedigree
- "Next gen Honey" vision resonated
Even if Yaw doesn't succeed, expect Michael to keep building. Goal is to be the investor he remembers for his next venture.
This is how long-term founder relationships are built.